shivangiverma10
September 9, 2021
The Chennai Bench of Customs, Excises and Service Tax Appellate Tribunal (CESTAT) quashed the Order imposing Penalty on Customs Brokers as against the Principles of Natural Justice. Facts of the case:- The appellant, M/s. Seaswan Shipping and Logistics who is a Customs Broker is aggrieved by …
shivangiverma10
September 8, 2021
1. The e-Filing portal of the Income Tax Department (www.incometax.gov.in) was launched on 7th June 2021. Taxpayers and professionals have reported glitches and difficulties in the portal since then. The Ministry of Finance has been regularly monitoring the resolution of issues with Infosys Ltd which is …
shivangiverma10
September 6, 2021
The Income Tax Appellate Tribunal (ITAT), Bangalore has granted partial relief to Google Ireland where the Tribunal expedited the hearing and posted the matter for final hearing on 16th September 2021. Facts of the case:- The Assessing Officer has assessed an income of Rs.93.66 crores as …
shivangiverma10
September 6, 2021
Judgment:- The Kerala High Court ruled that the E-Way Bill is not required for transportation of ‘Used Personal Vehicle’. Facts of the case:- The Respondents, VST, and Sons have filed the writ petition challenging the detention of the ‘RANGE ROVER’ motor vehicle belonging to the respondent …
shivangiverma10
September 6, 2021
In the Union Budget 2021, the finance minister Nirmala Sitharaman announced that senior citizens above the age of 75 years, who only have pension and interest as a source of income will be exempted from filing the income tax returns. During the budget speech, Sitharaman said, …
shivangiverma10
September 5, 2021
Judgement:- In relief to the Reliance Industries, the Mumbai Bench of Income Tax Appellate Tribunal (ITAT) ruled that the revision by Pr. CIT(A) was not justified in case AO conducted the proper enquiry. Facts of the case:- As per the provisions of Section 263 of Income …
shivangiverma10
September 2, 2021
1. The Central Board of Direct Taxes (CBDT) has notified the Provision for Calculation of taxable interest relating to contribution in a Provident Fund (PF) exceeding the specified limit, which will be effective from 1st April 2022. 2. The Board has notified the Income-tax (25th Amendment) …
shivangiverma10
September 2, 2021
1. The broad framework of CSR has been provided in Section 135 of the Companies Act, 2013 (hereinafter referred to as ‘the Act), Schedule VII of the Act and Companies (CSR Policy) Rules, 2014 (hereinafter referred to as ‘the CSR Rules’). Further, Ministry had also issued …
shivangiverma10
September 1, 2021
1. The government on Wednesday has appointed Jagannath Bidyadhar Mohapatra as a new Chairman of the Central Board of Direct Taxes (CBDT). “The Appointments Committee of the Cabinet has approved the appointment of Shri J.B. Mohapatra, IRS (IT:85031), Member, Central Board of Direct Taxes as Chairman, …
